Updated on 9/8/2022
This article helps plaintiffs and attorneys alike learn more about lawsuit loans and alternatives in Indiana. Below you will find the following information:
Lawsuit loan companies serving Indiana
Below you will find a list of companies that provide funding in Indiana. We highlight lawsuit loan companies we recommend, as well as local and regional funding companies where applicable.
Recommended lawsuit loan companies funding Indiana residents
We recommend the following companies for plaintiffs residing in Indiana.
Our pick for low rate lawsuit loans
USClaims offers some of the lowest, non-compounding rates in the industry. Many companies claim to offer “the lowest rates in the industry” – we recommend comparing them against an offer from USClaims to see for yourself.
Our pick for fast lawsuit settlement loans
Thrivest Link Legal Funding offers reasonable funding terms often with simple, non-compounding rates. Their expert underwriting allows them to fund larger sums than many of their competitors. They frequently approve claims for funding within 24 hours.
Highly rated by consumers
Capital Now Funding is a Kentucky-based settlement advance company founded in 2015. They claim to offer a 45% fixed fee model with no interest. This could be advantageous for claimants expecting a lengthy legal claim.
Lawsuit loan companies located in Indiana
Compare Lawsuit Loans does not currently cover any local lawsuit lending companies in Indiana. Local funding companies interested in being included on this page may contact us at [email protected]
Regional pre-settlement funding companies that serve Indiana residents
- Mustang Litigation Funding – Mustang Litigation Funding is a relatively new but quickly growing lawsuit funding company based in Minnesota. They have provided more than $50 million in funds to plaintiffs and attorneys since 2018.
- Oasis Financial – Oasis Financial is one of the largest pre-settlement lawsuit loan companies in the United States. Oasis Financial has provided funding to more than 250,000 plaintiffs since 2003.
Other pre-settlement lawsuit loan companies serving Indiana residents
- 5 Star Legal Funding – 5 Star Legal Funding is based in New York and was founded in 2006. They advertise simple, non-compounding rates and capped repayment terms.
- Baker Street Funding – Baker Street Funding is a relatively new personal injury case funding company based in New York. Despite the company’s age, they are growing very quickly. They claim to provide rates between 1.5% and 3.4%, compounding monthly.
- Bridgeway Legal Funding – Bridgeway Legal Funding offers reasonable rates and fast processing of workers’ compensation lawsuit loans. Workers’ compensation funding is typically only available in states in which an attorney controls the settlement proceeds.
- Client Legal Funding – Florida-based Client Legal Funding was founded in 2011. They offer pre-settlement funding, post-settlement funding, medical funding, and attorney funding services.
- Glofin Funding – Founded in 2002, Glofin Funding is one of the longest-standing providers of personal injury funding in the United States. They serve plaintiffs nationwide with a few exceptions.
- Liberty Settlement Funding – Liberty Settlement Funding is a Florida-based lawsuit settlement funding company serving plaintiffs nationwide.
- Pegasus Legal Capital – Pegasus Legal Capital provides non-recourse lawsuit settlement funding to plaintiffs nationwide. They claim to provide approvals within four to six hours from receiving documentation from your law office.
- The Legal Funding Group – Based in Savannah, Georgia, The Legal Funding Group provides lawsuit cash advances nationwide. On their website, they quote a rate of 36% every six months.
- Triumph Legal Funding – New Jersey’s Triumph Legal Funding offers competitive rates and fast, friendly service. Triumph favors rolling contracts with pre-approved monthly funding amounts to help clients budget and offer peace of mind throughout the course of their lawsuit.
Lawsuit funding laws, regulation, and relevant ethics opinions in Indiana
Indiana’s Civil Proceeding Advance Payments statute regulates lawsuit lending in the state and imposes maximum interest charges on legal funding companies in the state. Many pre-settlement funding companies service Indiana.
Laws regarding lawsuit loans in Indiana
See IN Code § 24-12-4-1 (2019). Civil Proceeding Advance Payments: Indiana state law defines and regulates “Civil Proceeding Advance Payment (CPAP) Transaction(s).” The statute requires registration for companies providing loans in excess of a set number per year. The statute indicates that lawsuit loan interest rates are subject to maximums set in Indiana’s UCCC (IC 24-4.5): 36% annual rate cap, 7% service charge cap, and a maximum fee of $200 – $500 based on the size of the lawsuit advance.
Source: IN Code § 24-12-4-1 (2019) Civil Proceeding Advance Payments
Can a lawyer lend money to a client in Indiana?
While an attorney in Indiana cannot cover living expenses for a client, they can cover the costs of litigation, or advance all litigation and court fees to the end.
Source: Indiana Rules of Professional Conduct 1.8(e)
Can attorneys help clients receive lawsuit loans in Indiana?
Attorneys may not guarantee loans to clients. Standard funding agreements do not require this.
Source: Indiana Rules of Professional Conduct 1.8(e)
Lawsuit loan alternatives in Indiana
Lawsuit loans are expensive. Plaintiffs in Indiana should exhaust all other options before seeking legal funding. Check out the local resources below for some ideas:
- Get Help Paying for Rent Expenses in Indiana – if you are unable to pay your rent, this program can provide up to 12 months of assistance to cover past due rents and utilities, as well as ongoing rent payments.
- Food Banks in Indiana – provides links to various food banks. Find a location in your area to get more information on the programs that are offered.
- Low Income Energy Assistance Program – offers payment assistance to low-income households that need help to pay for heat and electric bills. Grants are available to offset the cost of heating your home and to restore service that has been disconnected.